Sterling Bank to give Nigerians ₦1m extra every month

Leading commercial bank and Africa’s most agile company, Sterling Bank has announced the introduction of AlwaysOn by Sterling, a bold new feature on its OneBank platform that will give eligible customers up to ₦1 million extra every month -even when their account balances are running low.

Launched on Workers’ Day 2025, the initiative is part of an ongoing movement to remove structural barriers to financial freedom and empower everyday Nigerians to move boldly, even in uncertain times.

AlwaysOn is a specialised, invitation-only feature for customers who maintain an active
OneBank account for a while. It provides an advance to settle bills or make payments without delays, or any of the friction associated with traditional credit systems.

“This is not just about funds,” said Abubakar Suleiman, Chief Executive Officer of Sterling Bank. “It’s about freedom and dignity. It’s about backing our customers with the trust and tools to act boldly when life demands it.”

Mr Suleiman emphasised that the new feature is not a product, it’s a logical shift in how the bank supports its customers.

“We’re building a financial ecosystem designed for momentum -for people with grit, urgency, and dreams too big to wait. If you’ve banked with us, you’ve earned our confidence. Now you’ll have our backing to match,” Mr Suleiman added.

The introduction of AlwaysOn marks the next chapter in Sterling’s growing movement to create a fairer and more responsive financial system. It follows the Zero Transfer Fees initiative in April, which returned an estimated ₦13 billion to Nigerians by eliminating transfer charges across the OneBank platform. It also builds on Sterling’s Free Bus Ride initiative, which helped commuters get home from work for free during a time of intense economic pressure.

Together, these efforts reflect the bank’s bold, people-first approach to customer impact, now made possible by its adoption of SeaBaas, Nigeria’s first indigenous core banking platform.

“We’re not the kind of bank that stands on the sidelines while Nigerians hustle,” said Obinna Ukachukwu, Growth Executive for Retail and Consumer Banking. “We removed the fees that slowed them down. Now we’re giving Nigerians the financial freedom to seize opportunity when it shows up. We’re on the pitch with them.”

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Sterling’s actions have sparked widespread public support and national recognition as they have continued to push the boundaries of what corporate citizenship can mean to everyday Nigerians.

Notable icons from various fields have canvassed their support and praised the bank’s stance in redefining financial services, inspiring other institutions to follow suit.

Nigerians are encouraged to apply to join the waitlist for the scheme when it goes live later this month and ultimately, eligibility for up to N1 million extra in relief advances.

Sterling Bank is a leading Nigerian commercial bank and one of Africa’s most progressive financial institutions, widely recognised for its bold approach to customer advocacy and commitment to transforming lives through innovative solutions.

From eliminating local transfer fees through its OneBank platform to championing inclusive access to capital, the bank has consistently led with impact.